Acushnet Holdings Corp. · NYSE:GOLF
Acushnet — Q1 2025 Earnings Presentation
13 slides from Acushnet's earnings presentation, May 7, 2025
Slide 1: First Quarter 2025 Earnings Call
First Quarter 2025 Earnings Call May 7, 2025
Slide 2: Disclaimers
DISCLAIMERS FORWARD-LOOKING STATEMENTS This presentation includes forward-looking statements that reflect our current views with respect to, among other things, our 2025 outlook, our operations and our financial performance. These forward-looking statements are included throughout this presentation
Slide 3: Q1 2025 Performance
Q1 2025 Performance David Maher President and Chief Executive Officer
Slide 4: Q1 Overview and Net Sales by Segment
Q1 OVERVIEW AND NET SALES BY SEGMENT Growth Growth ($ in millions) Q1 2025 Y/Y Y/Y @ CC Net sales $703.4 (0.6)% 1.2% Adjusted EBITDA(1) $138.9 (9.6)% Segment net sales Golf Balls $213.3 2.5% 4.0% Golf Clubs $207.8 1.9% 3.5% Titleist Golf Equipment $421.1 2.2% 3.8% FootJoy Golf Wear $178.4 (6.6)% (4.
Slide 5: Outlook
OUTLOOK • Continued strength and resiliency from the dedicated golfer • Product Highlights • Pro V1 and Pro V1x golf ball launch • HyperFlex and Quantum footwear models • GT1 metal extension, Scotty Cameron Studio Style putters and limited-edition Black Vapor irons • Initiatives • Continued expansio
Slide 6: Q1 2025 Financial Results
Q1 2025 Financial Results Sean Sullivan Chief Financial Officer
Slide 7: Q1 Net Sales by Region
Q1 NET SALES BY REGION Growth Growth ($ in millions) Q1 2025 Y/Y Y/Y @ CC United States $424.2 1.4% 1.4% EMEA $103.9 2.2% 4.4% Japan $35.2 (5.4)% (2.4)% Korea $66.2 (12.1)% (3.9)% Rest of World $73.9 (1.7)% 2.0% 7
Slide 8: Income Statement Highlights
INCOME STATEMENT HIGHLIGHTS ($ in millions) Q1 2025 Q1 2024 Net sales $703.4 $707.6 Gross profit $337.2 $342.4 GM% 47.9% 48.4% SG&A $200.3 $201.0 R&D $18.9 $16.5 Intangible amortization $3.5 $3.5 Income from operations $114.5 $121.4 Interest expense, net $13.8 $13.1 Other (income) expense, net $(19.
Slide 9: Balance Sheet and Capital Allocation
BALANCE SHEET AND CAPITAL ALLOCATION ($ in millions) As of 3/31/2025 As of 12/31/2024 Unrestricted Cash $39 $51 Total Debt Outstanding $944 $764 (1) Net Leverage Ratio 2.0x 1.8x Inventory $538 $576 (1) Ratio of average adjusted net funded debt for the prior four fiscal quarters to Adjusted EBITDA fo
Slide 10: 2025 Financial Outlook
2025 FINANCIAL OUTLOOK • Not providing any updates to previously issued consolidated full-year outlook • Gross Full-Year 2025 Tariff Impact approximately ~$75 million • Based on current rate regime extending through 12/31/25 • China 145%, Canada and Mexico 25%, Rest of World 10% • About 70% of the ~
Slide 11: Q&A
Q&A 1 1
Slide 12: Appendix
APPENDIX CLUBGLOVE TPI
Slide 13: Adjusted EBITDA
ADJUSTED EBITDA ($ in millions) Q1 2025 Q1 2024 Net income attributable to Acushnet Holdings Corp. $99.4 $87.8 Interest expense, net 13.8 13.1 Income tax expense 21.6 23.4 Depreciation and amortization 14.3 13.8 Share-based compensation 6.9 7.4 Restructuring costs (1) 0.1 7.0 Transformation costs (2